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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.043%
Price spread now: Bitget against Kraken Futures−0.094%7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$370.369% of the position
Long on Kraken FuturesShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days−0.182%−$18 on $10k
Price spread, last 4 days (all we have)+0.055%+$5 · spread now −0.094%, 7d avg −0.057%
Together, before fees−0.127%−$13 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bitget is 0.036% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.057%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.182% in total (about -9.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_HYPEUSD93.2510.0342pay 0.0043% / 1h28m 52s$20.8M$29.6M50x
ShortBitget HYPEUSDT93.1640.0014get 0.0007% / 4h2h 28m$225.1M$98.9M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$68.8
Price spread: −0.094% → −0.057%
−$3.62
Slippage, 4 orders
−$14.95
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$109.36
Costs to cover
0.369%
Break-even
never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Bitget: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 5 min ago1.66 bp10.8 bp −$1115.1 bp −$15121.8 bp −$2,18474.6 bp −$37.3K
Sell Bitget live order book, 5 min ago0.05 bp10.6 bp −$1113.9 bp −$13919.9 bp −$1,985doesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1528%1h93.137−0.123%$196K$234K7xas long as short
Aftermath Perps HYPEUSD−0.0370%1h93.259+0.008%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.236−0.016%$3K$33125xas long as short
Bullet HYPE-USD−0.0058%1h93.249−0.002%$111K$578K20xas long as short
Orderly PERP_HYPE_USDC−0.0023%4h93.211−0.043%$146K$662K20xas long as short
01 Exchange HYPEUSD−0.0016%1h93.311+0.064%$87K$365K20xas long as short
dYdX HYPE-USD0.0000%1h93.295+0.047%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.255+0.004%$22K$290K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.280+0.031%$62K—150xas long as short
Arcus HYPE-USD+0.0011%1h93.254+0.003%$1.0M$3.9M10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget HYPEUSDTshort+0.0014%4h93.164−0.094%$225.1M$98.9M75x
Bybit HYPEUSDT+0.0017%8h93.154−0.104%$316.5M$282.8M75xas long as short
Ondo Perps HYPE-USD.P+0.0021%1h93.250−0.001%$702K$1.2M10xas long as short
Phoenix HYPE+0.0026%1h93.282+0.033%$207K$1.2M10xas long as short
Phemex HYPEUSDT+0.0049%8h93.222−0.031%$12.7M$2.8M50xas long as short
edgeX HYPEUSDC+0.0088%4h93.175−0.081%$5.0M$30.0M30xas long as short
Paradex HYPE-USD-PERP+0.0094%8h93.281+0.032%$339K$160K20xas long as short
Lighter HYPE+0.0096%1h93.214−0.039%$16.1M$63.2M20xas long as short
Lighter RH HYPE+0.0096%1h93.211−0.043%$3.1M$11.5M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.294+0.046%$75K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.260+0.009%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.279+0.030%$8.0M$48.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.232−0.021%$2.03B$669.1M10xas long as short
Aster HYPEUSDT+0.0100%4h93.202−0.053%$8.7M$36.4M300xas long as short
Pacifica HYPE+0.0100%1h93.269+0.019%$10.0M$15.3M20xas long as short
Binance HYPEUSDT+0.0100%4h93.183−0.073%$373.4M$913.0M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.170−0.087%$114.3M$309.0M50xas long as short
Bulk HYPE-USD+0.0100%1h93.230−0.023%$215K$15K10xas long as short
Gate HYPE_USDT+0.0100%4h93.174−0.083%$46.7M$54.3M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.183−0.073%$90.9M$81.2M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.164−0.094%$46.0M$18.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.167−0.090%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.221−0.032%$7.3M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.131−0.129%$28.5M$56.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.193−0.062%$7.5M$47.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.165−0.092%$342K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.238−0.014%$667K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.325+0.079%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.279+0.030%$483K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.232−0.021%$79K$166K20xas long as short
Derive HYPE-PERP+0.0100%1h93.211−0.043%$16.1M$7.4M10xas long as short
SunX HYPE-USDT+0.0100%4h93.260+0.009%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.191−0.065%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.425+0.186%$1.4M$6.5M75xas long as short
Extended HYPE-USD+0.0104%1h93.139−0.120%$18.1M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.223−0.030%$394K$158K20xas long as short
Kalshi KXHYPEPERP+0.0106%8h93.272+0.022%$1.8M$5.6M2.3xas long as short
Injective HYPE/USDC PERP+0.0122%1h93.190−0.066%$30K$339K12xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.310+0.063%$4.6M$5.8M50xas long as short
Reya HYPERUSDPERP+0.0269%1h93.257+0.006%$80K$127K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.274+0.024%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.309+0.062%$16.8M$11.9M75xas long as short
Kraken Futures PF_HYPEUSDlong+0.0342%1h93.251long leg$20.8M$29.6M50x
Deribit HYPE_USDC-PERPETUAL+0.0447%1h93.306+0.059%$7.5M$4.0M50xas long as short
RISEx HYPE/USDC+0.0527%1h93.348+0.104%$3.2M$6.2M20xas long as short